The Standard Club’s loss prevention (LP) department is core to the club’s continuing strategy to provide its members with sustainable, good value cover with excellent financial security and a high quality membership.
The club’s LP department is a multi-disciplinary team which was established in 1989 and has continually evolved in order to meet the needs of members in an ever changing maritime industry. The team includes master mariners, naval architects, ship production engineers and specialist surveyors. This unique mix of skills enables the LP team to meet the routine needs of the club and the more bespoke needs of individual members.
The objective of the department is to:
- ensure the club continues to underwrite ships and members of appropriate quality;
- provide expert LP advice internally to underwriting/claims departments and externally to the membership;
- evaluate claim trends and risk triggers in order to fine-tune the club’s pricing tool and risk appetite.
The loss prevention team achieves this through:
- publications and safety initiatives;
- risk assessment programme;
- Safety and Loss Advisory Committee;
- daily interaction with underwriting and claims departments.